For a number of years I worked for a not-for-profit company dedicated to research that would benefit an entire industry. We had no stock and all income was divided between salaries and research equipment. We even had competition from another company doing much the same thing. All in all it worked out fine. Nobody got super rich, and we produced a useful product, software based on our research.

Now it seems the health care insurance industry is dead set against a public option because they fear they will be forced out of business - cease to exist. This may or may not be true, but why would not converting themselves to not-for-profit companies in a healthy competition to benefit society be a good solution. Everyone would still draw salaries BUT the objective would shift from making the best showing on the stock market to providing the best products and services for the money. There are a number of such companies besides the one I worked for and as far as I know they all work fine and are never accused of outlandish bonuses. I like this one better than the “Medicare for all” proposal because it might be more acceptable to the established insurance companies – they would stay established under slightly different operating rules.